Most notably, its sourcing, classification and employment in increasing revenue and marketing
Two experts: 6 main mechanisms that support the use of data to develop companies' businesses
Companies benefit from data through different mechanisms and pathways.
Johnny Karam: "Some companies lack sufficient awareness about the importance of data, or how to benefit from it."
Jihad Tayara: "Data is (the oil of the future), and international companies use it, now, as a resource and a real value."
Two experts in the IT sector stated that there are about six main mechanisms that companies must follow in order to make use of data to grow and develop their business or as a new resource for them, or increase sales or optimal operation and rationalization of expenses or marketing.
They indicated to "Emirates Today" that the most prominent mechanisms that can be used to benefit from data as an actual value include: comprehensive monitoring, identifying data sources, using a technical infrastructure equipped for storage, classification, purification and analysis, and employing the results in developing companies' operations and resources.
In detail, Johnny Karam, the Regional Vice President for Emerging Markets at Veritas Technologies, said, “Some companies, until now, do not have sufficient awareness about the importance of the data they possess, or even realize ways to benefit from it and convert it as a value and an actual resource for companies.” Pointing out that «some companies are not able to accurately count the data while neglecting some organizational frameworks, such as that some employees use personal devices at work, and the use of storing work data on the cloud computing memory of their accounts, which represents difficulty in controlling and identifying the data.
He added: “The first steps for the important organizational frameworks to follow, to take advantage of the data and convert it as a resource and actual value, are: Determining the data that each company owns and its location, through the help of technical auxiliary systems specialized in this, and knowing the type of available data and classifying its importance and sensitivity to the company. Noting that «companies must set policies on how to deal with that data, and take advantage of the technical infrastructure equipped to store it, and automate the management of that data accurately.
Karam pointed out that «it is important to make use of the data, through the presence of tools that contribute to the analysis of that data, whether through experts or the technical systems that have become popular, finally, for artificial intelligence, which support the analysis of that data and extract the results related to it in the field of work. Each company, and the type of data it gets, through market operations, or through interaction with the public, or with companies.
He stated that “companies benefit from data in converting them into value and resource, through different mechanisms and paths, according to the type of work and field of each company. Some companies can benefit from the results of data in rationalizing expenditures and restructuring that support the growth and development of the company, according to monitoring data and extracting what is appropriate for the situation Plans, knowing the strengths and weaknesses and how to deal and take advantage of the factors.
If she works in a sector related to sales, she can also set up programs, based on that data, to increase sales, analyze customer behavior, and develop appropriate marketing plans and offers.
He added that "some companies, for example, benefit from the value of the monitored data related to consumers’ behavior and interests, and market these results to commercial companies, who benefit from them in presenting their products in certain ways. "
In turn, the technical expert and CEO of Evoteq for digital systems, Jihad Tayara, said, “Although data is (the oil of the future), and many international companies are currently using it as a resource and a real value for the development and development of their business, a number of companies are in the market. Local, until now, does not have any awareness about the importance of data, and how to benefit from it, or to employ it in various work sectors.
He explained that "companies should, through internal departments or with the help of external cadres and consultants, start work by adopting regulatory policies to support the utilization of data and convert it into an actual value, to keep pace with modern global market changes."
He added that «the most prominent mechanisms that can be relied upon in the transformation to benefit from data and turn it into a resource and value, is the need to monitor data and its sources in the company's departments, in various ways, including: data monitoring systems and sensors and areas of their distribution, according to the usual pattern of work in the company, regardless of Looking at its sectors, relying on the so-called (data oasis), or using a technical infrastructure equipped to store and archive data securely.
He explained that "the next steps include the importance of working to cleanse the data intended to be stored, classifying the data so that it can be used afterwards, and working, through specialists, in analyzing data with the help of artificial intelligence systems, and then developing policies and plans on how to employ the results of analyzing that data."
He said that «the results of the data can be used to develop companies’ business, increase sales or optimal operation, and rationalize expenditures or marketing, indicating that “preserving the privacy of dealers includes the need to obtain their consent to use any data related to them, which is what international companies benefit from. In marketing data results, and selling those results to companies interested in them, to increase their sales in different sectors, by making use of studying consumer behavior and how to market specific products.
“Some companies in the UAE have difficulty managing their dark, or so-called (unclassified), duplicate, outdated and insignificant data, given their direct impact on successful data compliance,” said Johnny Karam, regional vice president for emerging markets at Veritas Technologies. "Companies should deliberately arrange their data."
He explained that «a study that was conducted, recently, on a number of companies in the country, the results of which revealed that 75% of the data stored in the companies participating in the questionnaire in the UAE are dark, duplicate, outdated and insignificant data, as 33% of them are dark data, while they constitute Duplicate data, obsolete and useless, 42%.
Some companies are not able to accurately account for the data, with some employees using personal devices at work.
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